Gold Record and Trump’s Multi-front Wars
Good morning Investors. The initial pomp, celebrations and giddy optimism (well, on the part of a slim majority of the country, that is!) are over. Now, it’s time for reality–and “The Math”–to set in and for the harder work to start. Tune in for more on Trump’s Multi-front wars and the new gold record.
RIGHT HERE you’ll find my usual post-F.O.M.C. discussion with Mike Fox of The Prospector News, which we recorded late Thursday. (NOTE: This will replace a new episode of Your Money Today for this week, but we’ll be back next week…AND with yet another special guest!)
Mike and I hit on numerous topics:
–> As expected, the Federal Reserve stood pat this past week. More so, it made clear that the next rate cut may be quite a ways away.
That will inevitably have greater consequences for the markets, especially as President Trump reengages in his war of words with Chairman “Fire Marshall Jay.”
–> We discussed the energy markets; and the overwhelming likelihood that the president will be unable to bring energy costs down as promised. “The math” is against him, as I have discussed often previously.
–> I also pointed out that, more than ever, gold–which hit a new ATH in USD terms this past week–is marching to its own tune, no longer hobbled by traditional relationships with other asset classes. Keep an eye on the gold record.
–> While Mike and I discussed them somewhat, President Trump confirmed yesterday that he is adding broad tariffs to imports from Canada and Mexico and lesser ones to imports from China as he reengages in several trade/policy wars.
As of now, there’s been no detailed news of responses from those countries, though I did see where lame duck Prime Minister Castreau of Canada suggested his nation is putting together retaliatory measures (despite Trump’s magnanimity in seeming to want to tax oil imports at less than the otherwise blanket rate of 25%.)
–> Similarly to the thoughts I shared with you earlier in the week, I discussed the most important lesson investors must glean from Monday’s DeepSeek-inspired rout in chip stocks, etc. (And in the looming new Members-only issue of The National Investor I’ll have more about the opportunities this new issue has both closed and opened.)
–> And while all of this is a work in progress, I also offered my views as to the broader hemispheric objectives of President Trump and his modernized version of the old Monroe Doctrine. This renewed war of sorts designed to enforce American hegemony regionally is something that the president is NOT bluffing about.
Pretty much all these things are very likely to impact markets and the overall global economic outlook in various ways; and as always, I’ll be keeping our Members up to speed on all this and how to allocate our portfolios accordingly.
All the best,
Chris Temple
Editor/Publisher
Saturday morning, February 1, 2025
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